Citi announced the appointment of Shamsa Al-Falasi as Chief Executive Officer of Citibank, N.A. UAE Onshore Branch, in the United Arab Emirates (UAE), subject to regulatory approvals.
Shamsa will also assume the role of the Chief Administrative Officer (CAO) UAE across all Citi entities operating onshore & offshore in the country.Al-Falasi is a seasoned banker with almost two decades of experience at Citi. She joined the bank as a graduate in 2004 and has since worked across many geographies including Dublin, London and Sao Paulo, before being appointed as Senior Business and Relationship Manager for the MENA and Turkey region based in the UAE.
In 2015, Al-Falasi was appointed as Head of the Global Subsidiaries Group (GSG) for the UAE and Iraq, a role that was expanded in 2018 to include regional responsibilities as Head of GSG in GCC and Iraq based in the UAE. Since the beginning of 2023, Shamsa has served as interim Citi Country Officer (CCO) and interim CEO of Citibank, N.A. UAE Onshore Branch. She will continue to serve as Interim CCO until a permanent appointment is made.
Commenting on her new role, Shamsa said: “I am delighted to have the opportunity to be the first Emirati woman to lead Citi’s UAE onshore businesses and operations and contribute to the overall franchise performance. We have a seasoned team in the country, and together we will continue to provide the highest standards of products and services to our clients.”
Ebru Pakcan, CEO of Citi’s Middle East and Africa Cluster said: “This is a landmark appointment which testifies to Shamsa’s talent and leadership skills. Citi UAE is the bank flagship franchise in the Middle East and Africa region offering a full spectrum of institutional banking and wealth management services, and with Shamsa’s elevation, I am sure the franchise will continue on a trajectory of growth and success.”
The UAE serves as the regional hub for Citi’s Middle East & Africa Cluster covering 59 markets. Citi UAE offers a full spectrum of financial services including Corporate & Investment Banking, Capital Markets, Sales & Trading, Transactions Services, Private Banking and Commercial Banking. In addition, it serves as one of Citi’s four global Wealth Management centers and continues to be a major player in local consumer credit services.